Westpac Banking Corp Grows Position in Altria Group, Inc. $MO

Westpac Banking Corp lifted its position in shares of Altria Group, Inc. (NYSE:MO) by 90.4% during the third quarter, Holdings Channel.com reports. The firm owned 24,171 shares of the company’s stock after acquiring an additional 11,479 shares during the period. Westpac Banking Corp’s holdings in Altria Group were worth $1,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in MO. Brighton Jones LLC increased its holdings in Altria Group by 64.7% in the fourth quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock valued at $926,000 after buying an additional 6,954 shares in the last quarter. Sivia Capital Partners LLC grew its position in shares of Altria Group by 86.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 6,361 shares of the company’s stock valued at $373,000 after acquiring an additional 2,946 shares during the period. Schnieders Capital Management LLC. increased its stake in shares of Altria Group by 6.9% in the 2nd quarter. Schnieders Capital Management LLC. now owns 9,630 shares of the company’s stock valued at $565,000 after purchasing an additional 618 shares in the last quarter. Bessemer Group Inc. raised its holdings in Altria Group by 6.0% in the 2nd quarter. Bessemer Group Inc. now owns 36,459 shares of the company’s stock worth $2,137,000 after purchasing an additional 2,049 shares during the period. Finally, Austin Private Wealth LLC boosted its position in Altria Group by 6.1% during the second quarter. Austin Private Wealth LLC now owns 5,646 shares of the company’s stock worth $331,000 after purchasing an additional 326 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Stock Performance

Shares of MO stock opened at $69.42 on Friday. Altria Group, Inc. has a fifty-two week low of $52.82 and a fifty-two week high of $70.24. The stock’s fifty day moving average is $62.11 and its two-hundred day moving average is $62.55. The firm has a market capitalization of $116.53 billion, a P/E ratio of 16.89, a PEG ratio of 3.00 and a beta of 0.47.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.02). Altria Group had a net margin of 29.84% and a negative return on equity of 287.61%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.30 earnings per share. On average, equities analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group announced that its board has approved a stock repurchase plan on Thursday, October 30th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 1.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Altria Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Wednesday, March 25th. Altria Group’s dividend payout ratio (DPR) is 103.16%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MO shares. Stifel Nicolaus reduced their target price on Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Argus raised shares of Altria Group to a “hold” rating in a report on Tuesday, January 13th. UBS Group increased their price objective on shares of Altria Group from $63.00 to $67.00 and gave the company a “buy” rating in a report on Monday, January 26th. Citigroup lifted their target price on shares of Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Finally, Barclays upped their price target on shares of Altria Group from $57.00 to $63.00 and gave the stock an “underweight” rating in a research report on Monday. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $64.33.

Altria Group Company Profile

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.